RE: RE: RE: RE: RE: news release I doubt that they have yet approached Codelco but I think you have probably picked the most likely takeover candidate. Far more likely than BHP. Good pick.
Lumina has recently borrowed 10 million and has more than enough cash to JV but does not have enough cash to takeover 51% of Salta which is already split 50/50 between Cascadero and Coralbrook. The only reason that Cascadero looks small is purely down to market capitalisation in a quiet stockmarket. The facts on the ground are that they have a share of many more Taca Taca claims than Lumina has. When the world at large finally realises that the neighbouring claims have more copper underground than Lumina has on its current claim then the market capitalisation of Cascadero will become more like Lumina's.
What is really exciting is that the agreements could happen within the next three months or so and it is likely that the exploration will be completed before the end of this year.
I estimate that the day any JV is announced that Lumina's share price will start moving up towards 30 dollars per share but only when the results of the exploration are announced will it actually get to 30 dollars (it could briefly touch 45 dollars per share if Lumina performs the same as it did earlier this year). I estimate that Cascadero's share price will start moving up towards 10 dollars per share and achieve that price when the formal exploration results are announced (and should briefly touch 15 dollars per share if Lumina gets to 45).
If they JV, Lumina will more than triple its underground copper assets if the JV just includes the nearest claims. If they JV on more claims they could double up again.
The most logical time for a takeover will be the beginning of next year when the exploration results have been delivered and when all companies involved have achieved their maximum shareprices. If a takeover happens sooner it is unlikely to be in the best interests of shareholders (unless they offer between 30 and 45 dollars for Lumina, not likely before exploration is completed).
Very exciting prospects that are not currently reflected in the shareprices.